Consumer confidence in the overall economy and in technology both dropped in February, according to the latest Consumer Electronics Association Index. CEA's February report seems to be in contradiction to the Consumer Confidence Index, which in February showed an increase in consumer confidence.
Shawn DuBravac, CEA chief economist and director of research, said that, "Despite slight drops in both indexes this month, the trend remains intact – consumer sentiment continues to improve as the underlying economy strengthens.”
CEA's index for February 2012 did show confidence in both of its indexes were higher than in February 2011.
CEA's Index of Consumer Expectations (ICE), measuring consumer expectations about the broader economy, was 174.7 - down 2.6 points from an all-time high in January 2012 but up from 172.0 in February 2011.
CEA's Consumer Technology Expectations (ICTE) Index, measuring consumer confidence in technology spending, was 85.6 in February 2012, down 2.4 points from January 2012 but up nearly 10 points from February 2011.
DuBravac said the February report may suggest consumers have some uncertainty about their near-term prospects. “With that said, indexes are higher than this time last year, which indicates we are moving further along in the path to economic recovery."
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